Gabelli Healthcare & WellnessRx offering cumulative preferreds talked at 5.875%-6%

By Stephanie N. Rotondo

Phoenix, Sept. 17 – The Gabelli Healthcare & WellnessRx Trust plans to sell series B cumulative preferred shares, according to a prospectus filed with the Securities and Exchange Commission on Wednesday.

Price talk is 5.875% to 6%, according to a trader.

BofA Merrill Lynch is the bookrunner. G. Research Inc. is also participating in the deal.

Dividends are payable on the 26th day of March, June, September and December. The preferreds become redeemable September 2019.

The company will apply to list the new preferreds on the New York Stock Exchange.

Proceeds will be used for investments.

Gabelli Healthcare is a Rye, N.Y.-based diversified, closed-end management investment company.

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